PSBR and jobless figures jolt hopes for the Budget

Article Abstract:

The economic policies of chancellor Kenneth Clarke are coming under growing pressure following the publication of figures which indicate that unemployment rose in Jul 1995 for the first time in two years. The Central Statistical Office has stated that the latest unemployment figure is the result of an unusually large seasonal adjustment, but others fear that this could be the start of a return to rising unemployment. The government's failure to reduce the public sector borrowing requirement (PSBR) as much as anticipated has also caused problems, with large tax cuts in the Nov 1995 Budget now looking less likely.

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Fake blood and spending cuts

Article Abstract:

The UK government is particularly keen to emphasise that the present round of spending cuts for government departments has been very severe. It hopes in this way to gain the support of financial markets in the run-up to a Budget which is likely to contain measures designed to benefit ordinary people, including tax cuts. The forthcoming Budget is particularly politically sensitive, especially as an underlying improvement in the trend rate of economic growth, seen by the Bank of England as the only possible justification for tax cuts, has not taken place.

Budget, Budgeting, Budgets, Political aspects

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Is this jobless strategy too good to be true?

Article Abstract:

Long-term unemployment could be considerably reduced with a new approach to unemployment benefits, according to Professor Richard Layard, director of the LSE's Centre for Economic Performance. The government would guarantee a job for six months to anyone who had been receiving unemployment benefit for a year, with the benefits being paid to the employer as an incentive to take on the unemployed person. This would make the long-term unemployed much more attractive to potential employers.

Manpower policy

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